Filing: SEC v Schwab

Filing

SEC v Schwab

19 January 2016

A Charles Schwab Corp subsidiary and a former customer told the U.S. Securities and Exchange Commission Friday that an agency judge overreached when she found them liable for an alleged naked short-selling scheme and ordered them to pay $8.2 million in sanctions.

PDF (3 pages): SEC v Schwab

Article: SEC fines optionsXpress, individuals $4.8 million for naked short sales

Article - Media, Publications

SEC fines optionsXpress, individuals $4.8 million for naked short sales

Reuters Staff, 10 June 2013

NEW YORK (Reuters) – A Securities and Exchange Commission judge has ordered optionsXpress, its former chief financial officer and a customer to pay a total of $4.8 million in fines and to return $4.2 million for illegally selling shares they did not hold.

The order was posted late Friday on the SEC’s website.

A lawyer for Charles Schwab Corp, which bought optionsXpress in 2011 after the alleged violations occurred, said that optionsXpress “respectfully disagrees” with the ruling and is considering an appeal.

“There was no naked short selling in this case,” Stephen Senderowitz, a lawyer representing optionsXpress, said in an email to Reuters.

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Article: SEC charges OptionsXpress over naked short selling

Article - Media, Publications

SEC charges OptionsXpress over naked short selling

Reuters Staff, 16 April 2012

April 16 (Reuters) – The online brokerage OptionsXpress and five individuals were charged by the U.S. Securities and Exchange Commission with involvement in an abusive naked short-selling scheme.

The SEC on Monday said the scheme involved a series of sham transactions, violating a regulation requiring that equity securities be delivered when due.

Four OptionsXpress officers and a customer were charged by the SEC. Three of the officials settled without admitting or denying the regulator’s findings.

The SEC said the misconduct lasted from at least October 2008 to March 2010. Charles Schwab Corp bought OptionsXpress last year.

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